Investments

Foreign direct investment (FDI) grew in 2006 for the third consecutive year to reach 1.2 trillion US dollars according to initial estimates released Tuesday by the United Nations, which also warned that economic growth is likely to slow this year because of high commodity prices and other factors.

Chile's government oil corporation ENAP announced this week investments totaling 4.5 billion US dollars in the coming four years, 2007/2011, emphasizing exploration and production and the construction of refineries.

Vehicle sales in Argentina rose a healthy 17 percent to 453,000 units in January-November ÃÂ¢€ the higher figure since the 455,000 sold in the entire 1998 ÃÂ¢€ on the back of a steady economic recovery accompanied by a favourable international scenario, the new chairman of the ACARA concessionaires association Dante Alvarez said.

Chilean wood pulp producers Copec and CMPC are cashing in on high cellulose prices, which rose to a year-to-date high of 708.7 US dollars a ton on Tuesday. This is the highest price for cellulose since 2002, the disastrous year when cellulose prices fell to 433.2 US dollars a ton.